But Moynihan has managed to slowly but steadily get the bank on somewhat stable footing this year.
This small New England regional bank has been slowly growing by acquiring banks in the area and expanding to other affluent areas of NY state.
As the bank account of Midwestern Storage slowly grew, the same beaten-up old Volvo remained in his driveway.
Yes, most economic numbers are getting better, and various Fed governors are starting to use more optimistic language, leading many to speculate that the central bank will imminently (but slowly) begin the process of easing us off 0% interest rates.
These attitudes are slowly changing in countries such as Switzerland, where a fifth of all bank branches have been closed since the mid-1990s.
Martin Barnes of the Bank Credit Analyst, a research service, thinks the economy will grow more slowly than its capacity could allow at least until the end of 2009.
Bank deposits, still the most popular way of saving, are also growing rather more slowly this year.
The company is also slowly moving into the business process outsourcing, or BPO space, with a recent deal with ING bank in the U.S. Cognizant will be working with insurance claims processing for ING and hiring 1, 000 ING staffers and make them members of the Cognizant family.
FORBES: Cognizant CEO D'Souza Bullish On Year; Beats Infosys
The central bank governor, Daoud Ballali, acknowledges that there are problems in agriculture, which is moving more slowly than other sectors of the economy.
If, as many in Citicorp believe, the bank now has the chance to create a global consumer brand for the middle classes, moving too slowly could represent a huge opportunity missed.
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